For the 24 hours to 23:00 GMT, Gold declined 0.89% against the USD and closed at USD1572.00 per ounce yesterday, as investors looked forward to the US Federal Reserve’s interest rate decision.
In the Asian session, at GMT0400, the pair is trading at 1569.20, with gold trading 0.18% lower against the USD from yesterday’s close.
The pair is expected to find support at 1562.17, and a fall through could take it to the next support level of 1555.13. The pair is expected to find its first resistance at 1581.97, and a rise through could take it to the next resistance level of 1594.73.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
